Opposition legislation shines spotlight on government inaction on tax havens | National Union of Public and General Employees

Opposition legislation shines spotlight on government inaction on tax havens

"Thanks to the work of our All Together Now! (ATN) campaign talking to Canadians about the need to tax fairness in Canada, we have seen a shift in how people see the issue." — James Clancy, NUPGE National President.

Ottawa (20 June 2014) — Legislation introduced by the federal NDP National Revenue critic, Murray Rankin, shows just how little is being done to prevent corporations from using tax havens to avoid paying taxes in Canada. 

NDP legislation aimed at closing loopholes that allow companies to transfer money to subsidiaries in tax havens to avoid paying tax in Canada

Murray Rankin's legislation Bill C-621 is intended to close a loophole that allows companies to transfer money to subsidiaries in tax havens to avoid paying taxes. Canadians for Tax Fairness has estimated that Canada loses $7.8 billion in tax revenue every year because of this and other loopholes that enable large corporations and the wealthy to use tax havens.

At the G8 Summit in 2013, the federal government signed an agreement to clamp down on tax havens. In spite of that commitment, the federal government has done little to deal with the problem. The wealthy and large corporations are moving record amounts of money to tax havens and the rest of us are paying the price.

Public opinion against tax havens

The good news is that public opinion is against the federal government on tax havens.

Eight-one per cent of Canadians support measures to make it more difficult for large corporations and the wealthy to use tax havens.

"Thanks to the work of our All Together Now! (ATN) campaign talking to Canadians about the need to tax fairness in Canada, we have seen a shift in how people see the issue," says James Clancy, National President of the National Union of Public and General Employees (NUPGE).

"Our ATN campaign, and those of the Canadians for Tax Fairness, has helped people realize how much we are losing to corporate greed. The money being stashed away could be invested in our public services, in our infrastructure or in the creation of good jobs."

Legislation like Murray Rankin's provides an opportunity to remind the public of the cost of tax havens for Canada. And the more people hear about tax havens, the harder it is for politicians to avoid taking action.

"If the Conservatives are serious about clamping down on tax havens, there's no way they can vote against this legislation," said Clancy.

More information:

All Together Now! campaign promoting quality public services, tax fairness, good jobs and labour rights

NUPGE

The National Union of Public and General Employees (NUPGE) is one of Canada's largest labour organizations with over 340,000 members. Our mission is to improve the lives of working families and to build a stronger Canada by ensuring our common wealth is used for the common good. NUPGE

 

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